The word ‘cryptocurrency’ and ‘Bitcoin’ go hand in hand these days. While many would claim that this new form of digital currency will lead us into the future, others are still hesitant to invest and often see it as something little more than experimental.
5% Plan To Hold BTC But 84% Said They Do Not Want To Hold It
It is worth pointing out that while a few institutional investors are, for the most part, keen on investing in cryptocurrency, the problem arises when the financial bigwigs are still on the fence about making such a decision.
It is easy to see why too, as a survey conducted by Gartner (one of the world’s leading advisory and research-based companies) indicated that a whopping 84% of respondents expressed little to no desire to hold the digital currency as a corporate asset due in large part to its highly volatile nature.
Furthermore, those who did express interest in investing in it also mentioned that they were in no such hurry to make that jump yet. According to the survey, there were only 5 percent of the total participants that have revealed interest in holding the leading digital currency.
Cryptocurrency certainly has plenty of benefits; however, the risks must not be understated. While it is true that Bitcoin itself has reached record-breaking numbers in terms of financial interest, the fact remains that numerous big-time CEOs and financial as well as corporate backers simply cannot afford to take the risk.
As the aforementioned survey had alluded to, 50 out of 77 financial executives were CFOs. Them and especially tech-oriented CEOs are certainly interested in the prospects of making the shift to digital currency and by the prospect of treating it as a potential store of value. However, they also stated that plenty of further research would need to be carried out in order to win over the financial bigwigs.
The main reason other than the ones already discussed is simply due to the fact that the very nature of Bitcoin and by extension, cryptocurrency itself is not only volatile, but it is relatively untested.
While it is true that it has made some very rich, there is still a distinct possibility that things can go catastrophically wrong in the blink of an eye.